News

MoneyGram acquires Nexxo’s multichannel platform

Dallas-based provider of money transfer and payment services MoneyGram has announced the acquisition of Nexxo Financial Corporation's assets.

September 19, 2014

Dallas-based provider of money transfer and payment services MoneyGram has announced the acquisition of Nexxo Financial Corporation’s assets.

MoneyGram will utilize the company’s financial services to broaden its kiosk, bank and credit union services. Nexxo’s multichannel platform is to provide MoneyGram additional services such as check cashing, prepaid cards, money transfer and bill payments that can be offered by financial institutions looking to deploy a system with “minimal integration costs,” the company said.

The acquisition is consistent with MoneyGram’s goal of offering more choices across multiple channels to consumers, the announcement said.